This purpose of this project is to investigate the impact of "late parenting" (becoming a parent after age 35) on the behavior of older men and women and their young adult children using longitudinal information from the Panel Study of Income Dynamics (PSID). The analysis will utilize two matched panels: a file of children during the ages from 15 to 25; and a file of parents during the ages from 55 to 65. Children will be matched with the adults who they lived with at age 15. Two sets of questions will be addressed. First, how does the presence of young adult children affect the retirement, housing, mobility, and related behavior of older men and women? Second, do older parents differ from other parents in the support they provide for education, or in terms of "family safety net" functions such as co-residency, loans and gifts, and the provision of child-care?